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Scottsdale home values ’

In following up with Alisha Wade per our HomeGain Radio interview a couple of weeks ago, she gave me a market update for her Arizona markets.

“The Arizona market is depressed in most areas with home prices down and a high number of foreclosures and short sales, especially in Maricopa and Queen Creek, AZ. We currently have in Maricopa and Pinal County 50,985 listings of which 5,011 are REO properties. I didn’t check to see if this also included short sales, which I don’t think it does because those are pre-foreclosures. So well over a tenth of the Arizona market are foreclosures and short sales, which seem to be controlling our market of late.

The good news is that this type of market tends to weed out new agents and part-timers, which is not a bad thing for the buying/selling public as well as the seasoned agents.”

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